Pretty sure you have to get approval from the board at Monzo 1st before you can even go any further with the process. Unless it’s changed recently.
All you need to know and add is here:
I’ve not heard anything to suggest it has changed at all, certainly not to get easier
Given the sales need to be agreed at a board meeting, I cannot imagine they are rushing to it given the difficulties of social distancing and everything else going on
Thank you for the replies. I’ll look into getting approval from Monzo first then
Unless you you’re in dire straits and can easily prove it I personally wouldn’t bother. There’s a strong chance you’ll get declined or ignored.
The whole process will take months and months too so not only is it a lot of hassle, it also isn’t a quick way to get a cash injection.
Ahh I see, I can’t prove that I’m in dire straits because I’m not, thankfully.
Do we have any idea how long if ever we will be able to sell this on the stock market? Or we’ll be able to sell them another way without as much hassle?
2023 was mentioned as a possible IPO date but that could change
Not sure if there will be another option to sell before that, it was made clear when buying them that it could be many years before we’d be able to sell
I am looking to sell my whole block of 1949 Monzo shares due to exceptional circumstances. I have spoken to Crowdcube and it needs to be put forward to committee for their next end of quarter meeting.
If interested, then please let me know
You can’t sell them until you have permission.
In their defence, they did only ask for interest
Which isn’t allowed either I don’t think. You need the permission which doesn’t usually get approved and takes months and months to get to the stage the question gets asked and a response.
Which is why I stated: “I have spoken to Crowdcube and it needs to be put forward to committee for their next end of quarter meeting.”
I know the process and if it doesn’t get approved, then it doesn’t get approved.
What happened with your exceptional circumstances when you tried to sell them last time?
Few years back I managed to get other funds and didn’t proceed
Bear in mind that we’ve seen quite a few people say this on here and that day never comes.
This should be moved to the wiki too btw
Be great if the wiki could be updated, though.
The wiki is locked and closed. I did check that
It might be a permissions issue as I can update it just fine.
If/when you get your permission, someone will be update to update the wiki for you.
Just to update this Wiki - I think for both buyers and sellers it’s worth sending an email to Crowdcube, I believe they’ve developed Cubex for this reason - potentially eases up the sale as they need to be involved (together with Monzo’s board) in any case